EXHIBIT
10.20
MUTUAL RELEASE AND
TERMINATION
AGREEMENT
THIS MUTUAL
RELEASE AND TERMINATION AGREEMENT, by Recap Marketing and
Consulting, LLC, Hunter M. A. Carr, and Donald W. Sapaugh
(collectively “Recap”) and ATSI Communications, Inc., a
Nevada corporation (“ATSI”), is made and entered into
this the 1st day of June, 2005, with the following covenants,
agreements, understandings and promises having been made by RECAP
to ATSI and by ATSI to RECAP
WHEREAS, RECAP
entered into a Consulting Agreement with ATSI on October 13, 2003
(“Consulting Agreement”), and
WHEREAS, ATSI
extended the Consulting Agreement on November 1, 2004 for a period
of 6 months (“Extension”), and
WHEREAS, ATSI
and RECAP amended the Consulting Agreement on March 1, 2005,
and
WHEREAS, ATSI
and RECAP are mutually terminating the Consulting Agreement and
agree to the following:
1.
ATSI shall terminate RECAP’s
Agreement to provide certain consulting services effective August
1, 2005, and shall pay RECAP based upon the schedule attached
hereto entitled Exhibit A.
2.
RECAP does hereby release ATSI and
all related entities and their officers, directors, agents,
representatives, successors and assigns of and from any and all
claims RECAP might otherwise have on account of its contract for
services with ATSI. Further, RECAP hereby knowingly waives any
claims it might have under any state or federal law or statute
related to its Consulting Agreement.
3.
ATSI does hereby release RECAP and
all related representatives, successors and assigns of and from any
and all claims ATSI might otherwise have on account
